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Revolution Money Inc., the upstart that bills itself as merchants' low-cost alternative to the established card brands, this week announced that Murphy Oil USA Inc. is now accepting its RevolutionCard. It's a notable win for Revolution Money as Murphy has nearly 1,000 gas stations in 20 states, most located in …
Read More »Plenty of Upside for eBay in Bill Me Later Deal, Experts Say
Ebay Inc.'s $945 million acquisition of online payment processor Bill Me Later Inc., announced this week (Digital Transactions News, Oct. 6), places a powerful payment-generating tool in the online auctioneer's hands and simultaneously denies that tool to competitors like Google Inc. and Amazon.com Inc., experts tell Digital Transactions News. And …
Read More »Bill Me Later Extends eBay’s Payments Reach to Top Web Retailers
In praising online credit payment system Bill Me Later Inc. Monday morning, PayPal Inc. President Scott Thompson called Bill Me Later a “disruptive business” in the positive sense, and he credited PayPal for also being a disruptive payments player. And disruption of the status quo is quite possible with today's …
Read More »Visa Could Score a Debit Win As Wachovia Jilts Citi for Wells
Just a week ago, it looked like MasterCard Inc. was about to win a battle in its ongoing debit card war with market leader Visa Inc. MasterCard stalwart Citigroup Inc. had struck a deal to buy, with help from the government, most of struggling Wachovia Corp.'s banking assets, including Wachovia's …
Read More »Reputation, Products, Free Terminals Rank High in ISO Selection
Not all merchants choose independent sales organizations and acquirers the same way, and when they do, they do so for widely disparate reasons, says a research report released this week by Aite Group LLC, Boston. Yet “ISOs and acquirers are not differentiating among merchants” with respect to direct marketing and …
Read More »How ProPay Plans to Leverage Its Position in eBay Transactions
ProPay Inc., the only third-party payment processor chosen by eBay Inc. to handle transactions under its new all-electronic payment policy, says it is looking to the arrangement for big growth but hasn't yet worked out any projections for how much volume it will generate. “We see this as a growth …
Read More »MasterCard Could Catch a Break from Citi’s Deal for Wachovia
Citigroup Inc.'s government-assisted takeover of Wachovia Corp.'s banking assets, announced Monday morning, holds a debit card silver lining for MasterCard Inc. in a deal that otherwise symbolizes the radical reshaping of the banking industry after the mortgage meltdown. Citi is a predominantly MasterCard issuer while Wachovia is a big Visa …
Read More »Chase’s WaMu Deal Puts MasterCard on the Debit Defensive
MasterCard Inc., the distant No. 2 in the U.S. signature-based debit card market, scored a big win in 2005 over rival Visa Inc. when Washington Mutual Inc. said it would convert its Visa-branded debit portfolio of more than 10 million cards to MasterCard. But that gain is now in jeopardy …
Read More »Visa Plans Launches for Google’s Android, Nokia, And Money Transfer
Visa Inc. on Thursday said it will introduce transaction alerts and other services that will work with Google Inc.'s new Android operating system for mobile phones. The world's largest payments network also said it has developed contactless-payment and money-transfer applications for a new handset from Nokia that features near-field communication …
Read More »A Bill Moves Ahead That Would Limit Scope of Online-Gambling Law
Congress is preoccupied with bailing out Wall Street and mortgage-loan holders, but a bill quietly passed the House Financial Services Committee last week that payment-industry interests hope will become law before the 110th Congress adjourns. That's H.R. 6870, “The Payments System Protection Act of 2008,” a measure that would clarify …
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